Hero MotoCorp on Thursday said it will invest USD 60 million (about Rs 490 crore) in US-based Zero Motorcycles to jointly develop electric motorcycles.
The country’s largest two-wheeler maker said it is finalising a collaboration agreement with the California (US)-based manufacturer of premium electric motorcycles and powertrains.
The company’s board has approved an equity investment of up to USD 60 million in Zero Motorcycles, it added.
Zero Motorcycles is the global leader in electric motorcycles and powertrains. Its consolidated revenue for 2021 stood at USD 60.7 million.
